The cryptocurrency XRP supplanted BNB as the fourth largest in market cap, as Ripple, the company most closely linked to XRP, announced that it would be expanding in Brazil. As of Wednesday morning, XRP’s market cap was at about $93 billion, whereas BNB’s market cap was closer to $92 billion.
Ripple, which owns about 40% of the XRP supply, announced in a statement on Tuesday that in Brazil it plans on providing a suite of financial services, including cross-border payments, digital asset custody, prime brokerage, and treasury management. The company also plans to apply for a license with the country’s central bank.
